Oil prices were higher today coming off of last weeks lows as the market analyses OPEC production cuts. “Members participating in the output curtailments are not only seeing reduced revenue from smaller volumes but also from the price plunge that developed subsequent to the last OPEC+ decision,” said Jim Ritterbusch, president of Ritterbusch and Associates LLC in Galena, Illinois. With cuts not implemented until next month, oil faces a volatile two months before clarity from any quantifiable compliance data, the analysts said. This week, investors are watching for guidance on interest rate policies from meetings at five central banks, including the U.S. Federal Reserve, as well as U.S. inflation data to assess the potential impact on the global economy and oil demand. WTI traded up $.09 or .1% to close at $71.32. Brent traded up $.19 or .3% to close at $76.03.